Bonds; authorize issuance to assist in restoration and renovation of Scott Ford Midwife Houses in downtown Jackson.
If enacted, SB2761 will enable the State of Mississippi to issue bonds not exceeding six hundred thousand dollars ($600,000). These bonds will be a general obligation of the state, meaning they are backed by the full faith and credit of the state government. The bill also dictates the terms of repayment and outlines that any unexpended amounts in the dedicated fund at the end of a fiscal year will not revert to the state’s general fund, ensuring that all allocated resources remain earmarked for the renovation project.
Senate Bill 2761 is legislation aimed at authorizing the issuance of state general obligation bonds to fund the restoration and renovation of the Scott Ford Midwife Houses located in downtown Jackson, Mississippi. The bill outlines that the funds raised will specifically assist in covering various costs associated with the renovations of this notable historic site. A special fund, named the '2022 Scott Ford Midwife Houses Restoration and Renovation Fund,' will be established within the Mississippi State Treasury to handle the financial aspects of the project, ensuring that the allocation of funds is managed effectively.
While the bill appears to have a clear goal of preserving a historic site, potential points of contention could arise regarding the use of public funds for such projects. Discussions may center around whether the restoration of these midwife houses is an appropriate use of state finances, particularly in times of budget constraints. Additionally, transparency in the bonding process and accountability in the disbursement of funds could be topics of scrutiny among stakeholders and the general public.